Smith-Midland Corp. Faces Delisting Concerns
Ticker: SMID · Form: 8-K · Filed: Apr 25, 2024
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: SMID
TL;DR
SMID might get delisted, check the exchange rules.
AI Summary
Smith-Midland Corporation filed an 8-K on April 25, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard, and a transfer of listing. The filing date for the report is April 25, 2024, with the earliest event reported on April 19, 2024. The company is incorporated in Delaware and its principal executive offices are located in Midland, Virginia.
Why It Matters
This filing indicates potential issues with Smith-Midland Corporation's continued listing on a stock exchange, which could impact its stock's liquidity and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's stock trading status and investor confidence.
Key Players & Entities
- SMITH MIDLAND CORP (company) — Registrant
- 0001654954-24-004999 (filing_id) — Accession Number
- April 19, 2024 (date) — Earliest event reported
- April 25, 2024 (date) — Filing date
- Delaware (jurisdiction) — State of Incorporation
- Midland, Virginia (location) — Principal executive offices
FAQ
What specific listing rule or standard has Smith-Midland Corporation failed to satisfy?
The filing does not specify the exact rule or standard that Smith-Midland Corporation has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the significance of the 'Transfer of Listing' mentioned in the filing?
The filing mentions a 'Transfer of Listing' alongside the notice of delisting or failure to satisfy listing rules, suggesting the company may be moving to a different exchange or facing a change in its listing status.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on April 19, 2024.
What is the company's SIC code and industry?
Smith-Midland Corporation's Standard Industrial Classification (SIC) code is 3272, which corresponds to 'Concrete Products, Except Block & Brick'.
What is the company's telephone number?
Smith-Midland Corporation's telephone number is (540) 439-3266.
Filing Stats: 491 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-04-25 09:48:17
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share SMID NASDAQ I
Filing Documents
- smid_8k.htm (8-K) — 23KB
- 0001654954-24-004999.txt ( ) — 143KB
- smid-20240419.xsd (EX-101.SCH) — 6KB
- smid-20240419_lab.xml (EX-101.LAB) — 14KB
- smid-20240419_cal.xml (EX-101.CAL) — 1KB
- smid-20240419_pre.xml (EX-101.PRE) — 9KB
- smid-20240419_def.xml (EX-101.DEF) — 2KB
- smid_8k_htm.xml (XML) — 4KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On April 19, 2024, Smith-Midland Corporation (the "Company") received a letter from Nasdaq indicating that it was not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires the timely filing of all required periodic financial reports with the Securities and Exchange Commission. The required filing in question is the Company's Annual Report in Form 10-K for the year ended December 31, 2023 (the "Form 10-K"). The delay in filing the Form 10-K is related to the Company requiring additional time to complete its financial reporting close process, as referenced in the recent filing of Form 12b-25. The Company expects to file the Form 10-K in the near future.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (c) Exhibits Exhibit No Exhibit Description 104 Cover Page Interactive Data File (embedded within Inline XBRL document) 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 25, 2024 SMITH-MIDLAND CORPORATION By: /s/ Stephanie Poe Stephanie Poe Chief Financial Officer 3